Santa Claus Rally?
Following Friday’s more than 5% Nasdaq surge, stocks are set for an upside
move Monday ahead of a week loaded with economic news.
The Nasdaq futures are up 76 points, and the Dow futures are up 75 points.
The S&Ps look to open up 12.90 points while the yield on the 10-year
Treasury is 5.65%.
In economic news, the October existing home sales are due out at 10:00 AM ET.
Analysts expect a figure of 5.10 million units, and a lower-than-expected number
would suggest yet more economic cooling.
Monday Movers
On of Friday’s big gainers set for positive open is networker Juniper
Networks
(
JNPR |
Quote |
Chart |
News |
PowerRating). Juniper closed Friday up 12 to 131 1/8 and is currently
trading up to 137 3/4 in pre-market activity.
In the B2B space, Commerce One
(
CMRC |
Quote |
Chart |
News |
PowerRating) is trading higher on news it will
expand its business services in Korea. Commerce One closed Friday up 6 15/16 to
39 1/4 and is currently trading up to 42 1/4 in pre-market activity.
In related action, B2B Ariba
(
ARBA |
Quote |
Chart |
News |
PowerRating) is also trading higher Monday. Ariba
gained 10 1/8 to 78 3/4 on Friday and is currently trading up to 80 1/8 in
pre-market action.
Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating), which has been loosely tagged as a George W. tracking
stock is getting a small push in Monday trade following Bush’s Florida vote
certification on Sunday. Microsoft closed Friday at 69 15/16 and is currently
trading up to 70 3/4 in pre-market activity.